Author Archives: Russ

KPMG: $456 Million Fine, Seven Indicted

Posted on August 29, 2005 by Russ

The other shoe dropped on KPMG today. According to this story, KPMG will pay a fine of $456 million, accept an outside auditor, and shut down its tax practice for high net-worth individuals within six months. Additionally, seven former partners … Continue reading →

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LA Times: Let’s Increase Taxes (aka The Help Nevada, Oregon & Arizona Act)

Posted on August 29, 2005 by Russ

George Skelton of the Los Angeles Times today says, “There’s a gleaming pot of gold within easy grasp of the governor and Legislature that would help them balance the state’s deficit-ridden books…It is an income tax increase on the wealthiest … Continue reading →

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A Bozo Investment Leads to Tax Evasion

Posted on August 28, 2005 by Russ

Pity Mark Steven Miller, former CEO of Oakwood Deposit Bank in Ohio. Mr. Miller was convicted of fraud in 2003 for embezzling $49 million from his bank. He then took his profits and invested them in the Star Dancer Casino … Continue reading →

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Taxes and Online Gambling, Part 3: Records and Professionalism

Posted on August 25, 2005 by Russ

In this article, part 3 of probably 5 parts, I examine recordkeeping and professional status for online gamblers. Unfortunately, a lot of this material is, frankly, boring. But it’s necessary. Some of the material in this article is based on … Continue reading →

Posted in Gambling | 4 Comments

KPMG Indictments Near

Posted on August 25, 2005 by Russ

According to this story by Reuters, KMPG will face a fine of just under half a billion dollars. This story notes that eight former executives will be indicted.. However, KMPG will sign a “deferred prosecution” agreement so that the firm … Continue reading →

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Money for Nothing

Posted on August 25, 2005 by Russ

Ah, to live and breathe the fine air of the Golden State. Of course, we’re also known as the state with one of the highest (and probably soon to be the highest) personal income tax rates in the United States. … Continue reading →

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A Box of Nothing (Hugh Hewitt’s “Adopt-A-Box” Project)

Posted on August 21, 2005 by Russ

Hugh Hewitt asked bloggers if they would be interested in reviewing one of 136 boxes released by the Ronald Reagan Presidential Library. Having some interest in history, and quite a bit of curiosity as to what might be in a … Continue reading →

Posted in Taxable Talk | 2 Comments

Trumpeter Playing the Tax Evasion Blues

Posted on August 21, 2005 by Russ

A trumpeter who also operates a gospel ministry (MightyHorn Ministry) has been charged with tax evasion. According to a story in the Chatanooga, TN Chatanoogan, Phil Driscoll, his wife and his mother-in-law have been accused of evading taxes by failing … Continue reading →

Posted in Tax Evasion | 1 Comment

It’s Renewal Time, So Here Comes the Scam

Posted on August 19, 2005 by Russ

My corporation’s annual renewal fee (mandatory fee of $25 to the Secretary of State of California) is due in September. So what comes in my mail today? A request from “State Corporate Compliance” so that I can pay an additional … Continue reading →

Posted in Scams | 2 Comments

The Bronze State?

Posted on August 19, 2005 by Russ

California continues to lose some of its luster. As reported by the TaxProf Blog, California athletes leave for brighter, er, cheaper (on a tax basis) pastures. For those who don’t remember, Californians passed Proposition 63 last November. This proposition added … Continue reading →

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